Intel Rally Is the Real Deal

A strong quarter and bullish forecast are propelling shares to a decade high. Time to sell? Not with this valuation and yield.

Conventional wisdom holds that tablets are cannibalizing computer sales. But have reports of the PC's death been greatly exaggerated? The answer appears to be yes.

After the close Tuesday, Intel (ticker: INTC) announced second-quarter earnings of $2.8 billion, or 55 cents a share, up from 39 cents in the year-earlier period. Revenue rose 8% to $13.9 billion. Analysts expected earnings of 52 cents per share on $13.7 billion in revenue....